What if the Real Satoshi sells his 1 million Bitcoins ?
Everyone knows that Satoshi owns 1million bitcoin (and 1 million bitcoin cash and 1 million Bitcoin gold too, thanks to airdrops)
If he wakes up and just decides to sell it all, then we all have our worlds changed.
If there is a sell order of more than 300,000 bitcoin on any exchange then the market is shaken. People will then think that the demand is lost and all of a sudden, FUD (fear, uncertainty and doubt) is created and our normal hodlers will too start selling the coins and all of a sudden, everyone would want to sell btc. So, we may see more than 5million coins on sale and the price charts may show us inverted parabola.
This would create more supply than demand and prices will keep going down until a reasonable explanation is attained.
Right now at the time of writing this article, price of btc is 8300usd and if Satoshi starts to sell his coins, then the prices will go down to almost, 1000usd or may be even lesser.
The people who entered in the last 5 years, will surely exit, but the ones who entered in 2013 or before will find this the right opportunity to buy more. And once the million coins are deployed, the prices start to shoot right away.
This might crumble the market for more than 3 weeks and Alt market may die out of no where. Alts might hit absolute zero and miners all over might consider shutting down the operations because their blocks would fetch lesser money that the electricity bills, and make mining a loss making business. Suddenly their costly machines would be rendered useless.
The trust in BTC would be lost and people will stay away from it.
Probably the guy won't sell it ever. Even if he does need to he might sell in incredibly small quantities.
Possible, but we cannot rule out that he might sell them any minute.
Secondly a person who invented bitcoin cannot be poor, he might have some other skill to support himself with, so might not touch btc and use it for noble purpose
"The people who entered in the last 5 years, will surely exit"
Just to reming you in January '17 BTC was around 800-900 USD, and now is 8k USD or more, so technically, those people who bought before January this year, will not lose any money, if they bought 5 years or so ago....
Only if they bought in spike of 2-3 years ago, when BTC was above 1k USD, once.
But overall interesting thought "what if.... Satoshi would come out" :)
You cannot rule out the possibility, it may happen may be 5 years later, let's wait for it
also the posibility, Nakamoto might be offloading BTC right now, in small chunks.
On the other hand, when the capitalisation of the cryptoworld is increasing, and more money invested in it, price fluctuation should not be that high in the future (10% or so), and the market will be more stable, so huge amounts of coins offloading in one go, would not effect that much the whole market - this is talking 3-5 years in the future.
@OriginalWorks
The @OriginalWorks bot has determined this post by @venusjain to be original material and upvoted(1.5%) it!
To call @OriginalWorks, simply reply to any post with @originalworks or !originalworks in your message!
Your Post Has Been Featured on @Resteemable!
Feature any Steemit post using resteemit.com!
How It Works:
1. Take Any Steemit URL
2. Erase
https://3. Type
reGet Featured Instantly – Featured Posts are voted every 2.4hrs
Join the Curation Team Here | Vote Resteemable for Witness